CEOs for Cities officially kicks off its "Talent Dividend Prize Competition" today. Greater Houston is one of more than 100 U.S. metro areas aiming to boost its college graduation rate in return for a $1 million — national promotion campaign. Andrew Schneider has the story.

Research by the CEOs for Cities suggests that raising the four-year college attainment rate in the 51 largest metropolitan areas by a single percentage point would boost U.S. personal income by $124 billion a year.

The Chicago-based foundation is now offering a million-dollar prize to the city that shows the largest increase in post-secondary degrees per capita over a three year period.

Sandra Wegmann is with the Center for Houston’s Future, a think tank coordinating the efforts of Houston business and education leaders in the competition.

“If Houston wins, I think our biggest gain will be in the visibility that we achieve. The $1 million will not be used for educational programming, but it will be used to promote the city, and there’s some flexibility in terms of how that money would be spent.”

CEOs for Cities will announce the winner of its Talent Dividend Prize Competition in September 2014.

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